Regulatory Alerts2024-03-21
Notice No. 5/GBM/2024, March 21 – Establishes the Regime for Repatriation and Conversion of Export Revenues from Goods, Services, and Foreign Investment Income
The Bank of Mozambique issued Notice No. 5/GBM/2024, dated March 21, 2024, to establish the repatriation and conversion regime for export revenues from goods, services, and foreign investment income. Residents must repatriate these revenues within 90 days of shipment, service receipt, or foreign investment income accrual via authorized banks in foreign currency. Additionally, 30% of the received amounts must be converted into national currency at the prevailing spot rate at the time of receipt, with specific exemptions for rental payments to domestic bank accounts and remuneration paid to diplomatic missions.
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